A currency conversion API is a useful tool that converts the value of one currency to another. The best currency conversion APIs also provide accurate historical exchange rates that businesses can use to make key strategic decisions. Whether you run a business that deals with import and export or you’re planning your next trip to a foreign country, a currency conversion API is handy in many situations.
If you’re looking for a powerful and easy-to-use currency conversion API, fixer is the perfect option. Fixer provides accurate real-time and historical exchange rates. In addition, you can use fixer to accurately convert any currency to another.
In this article, we’ll show you 10 reasons why you definitely need a currency conversion API like Fixer.
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1. Do You Import Goods from Other Countries?
If you run a business that involves importing goods and raw materials from other countries, it is critical to your business operations to accurately convert currencies. For instance, if you purchase goods from a specific country and its currency appreciates, its product prices also rise. Similarly, if the currency depreciates, those same goods cost less.
Because of this, you need a currency conversion API like fixer to keep track of world currencies. Fixer offers real-time exchange and currency conversion rates for more than 170 world currencies.
2. Do You Sell Products to Other Countries?
If you sell products to other countries, you also need fixer’s accurate exchange rate and currency conversions. This way, you adjust your prices in different countries according to their exchange rates.
3. Do You Want to Know Historical Exchange Rates?
Businesses also need to know historical exchange rates to analyze trends and make strategic decisions. Fixer provides accurate historical exchange rates for most currencies all the way back to 1999. You can also use historical exchange rate data to convert currencies with the fixer currency conversion API.
Below are historical exchange rates generated by the fixer currency conversion API:
4. Do You Want to Invest Overseas?
If you’re planning to invest overseas, it’s essential for you to use an efficient currency conversion API like fixer to get accurate results. Then, you can determine actual costs in real-time and see whether or not an investment is viable.
5. Are you looking to Trade Forex?
Forex is essentially converting one currency to another. Forex trading refers to the act of buying and selling currencies for profit. Because of this, if you’re looking to make money in Forex trading, you need accurate currency exchange rates. You also need to know historical exchange rates to understand trends.
This is where you need a currency conversion API like Fixer. This is because fixer provides accurate real-time and historical exchange rates for over 170 world currencies. Fixer also comes with a separate currency conversion endpoint that lets you convert any value from one currency into another.
6. Do You Want Information About Currency Fluctuations?
Knowing about currency fluctuations is essential for businesses dealing with imports and exports. The best way to understand how currencies fluctuate is to use a powerful currency conversion API like fixer. Fixer comes with a fluctuation endpoint that provides accurate information about how different currencies fluctuate on a day-to-day basis.
7. Do You Want to Know Daily Historical Exchange Rates?
A currency conversion API like fixer also provides daily historical exchange rates. Businesses can compare daily historical change rates to make critical strategic decisions. Fixer comes with a “timeseries” endpoint for any of its available currencies. You can specify the dates within a maximum period of 365 days.
8. Do You Want To Create a Powerful Currency Converter App?
If you’re a developer who wants to create a currency converter app for travellers or businesses, you need access to currency rates and conversion results. You can integrate the fixer API into your app to provide accurate results to your users.
9. Do You Want to Display Pricing in Different Currencies on Your Online Travel Booking Platform?
When people plan a trip to a foreign country, they want to know its currency exchange rate for budgeting purposes. The fixer API is ideal in this situation. For example, by integrating fixer API in your online reservation platform, your users can easily convert prices into their own currency.
10. Do You Want To Ensure Your Currency Conversion and Exchange Rates Data is Accurate?
While there are many tools to get currency and exchange rates, not every tool provides accurate results. However, if you’re using fixer currency conversion API, you’re sure to get the most accurate results as the API uses trusted sources, such as the European Central Bank, to deliver currency data.
Also, you may check out other API tools at API Marketplace for additional information.